Will the transaction fee will high if I send small amount under $50

[EL MOHA]

I also thinking same but practically when I use safepal wallet (not recommended) there is dramatically a fee difference for different btc value. When I click on maximum btc(57$) ,the fee shows 11.86$ and with same network fee when I want to send 50$ then I have to pay 15$ fee.

What do you think it is wallet issues or something I have not learned yet?

It is not wallet issue, but the protocol. Bitcoin fees are calculated base on transaction size and that is why you see that even fee estimation platform put fee rate and not the exact fee to be paid because it varies. The number of input of output is what the fee rate is calculated against. For example the second transaction with $50 still has a change remain so the output will be the address you are sending the $50 to another address then the change goes to any of the change address making it 1 input and two output and that’s why there is difference in price to be paid.

This kind of cases is why it’s advisable to consolidate your little inputs into one when the fee rate is extremely low so that when you try to send you will have a single input and then would pay less than having multiple inputs

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[GeorgeJohn]

Will the transaction fee will high if I send small amount under $50

The thing is that if bitcoin is congested either you want to transact with little fee or larger fee it will be of same charge, secondly you have to understand that their is how you will send a low and amount thinking that it will go through while the congestion can make the small amount you want to transfer the charge might be times two of what you want to withdraw.

[oktana]

Yeah the amount you send has nothing to do with the fee.

You can send a million dollars using 1 input and your fee could be $10

Or you can send $100 using 100 inputs and your fee would be like $500 or so.

Right now it doesn’t make sense to send small amounts. Try and use a different alt if you need to send someone small amounts. The fees will eat you alive.

It’s really sad that one can’t transact small amount. Things like this discourage people who want to use Bitcoin as much as they can, for example OP. But then, one good thing I see here is that even if you’re transacting $1 Million, you’d likely pay the same amount as others transacting lower. But outside of Bitcoin, the banks may charge some percentage and this can take out some amount that will affect your balance. Anyways, I hope that the price for the gas fee can come down as soon as possible so people can transact more. The fee was always a lot more affordable/reasonable than this.

[Charles-Tim]

Anyways, I hope that the price for the gas fee can come down as soon as possible so people can transact more. The fee was always a lot more affordable/reasonable than this.

The fee is not called gas fee. This is not Ethereum network or an altcoin network that refers to their network transaction fee as gas fee. Bitcoin transaction fee is called 'transaction fee'. Or just call it fee.

If BRC20 tokens are getting more recognized, more people will be using the tokens and the more bitcoin network would be congested. I hope bitcoin developers will have something to do about this.

[Uruhara]

Reference:
1. https://www.viabtc.com/tools/txaccelerator

Have you tried it recently? They changed to a new captcha not so long ago, after which the transaction accelerator was available most of the hour. It used to tell me I beat 95% of the users with the captcha. Now, it tells me I beat 8% of the captcha, and the accelerator is instantly unavailable. So I can only conclude bots fill it up. Maybe someone created a paid service that relies on ViaBTC.

If I'm not mistaken, the Chaptcha model replacement occurred several weeks ago or last month. I also regularly use ViaBTC to accelerate my transactions. Of course, I did this after the fees really went crazy due to the ordinal hype.

ViaBTC provides 100 transactions that can be accelerated for free every hour. And in the last month, every 1 hour there were actually lots of free transactions left. But in the last 2 weeks I also felt surprised. In fact, I also have the same thoughts as you. That there are those who take excessive advantage of this. using bots or whatever I don't know yet.

But I researched it and usually ViaBTC will immediately automatically provide 100 free transaction accelerations every time the hour is even. like 00.00, 01.00, 02.00 like that every hour. and I was really surprised because in just 1 minute the 100 free transactions would always run out and this had happened in the past few weeks. In fact, in just 30 seconds, I once checked, for example at 00.00.30, it turned out that there were only around 11 more free transactions left. and at that time I was almost late in entering my transaction. luckily it worked. Because every time I make a small transaction, I will do it, for example, at around 00.58. and then I copy the tx hash of my transaction and then paste it on ViaBTC at exactly 01.00. and it will work. because if I'm just 1 minute late then I won't get the free transaction because the 100 free transactions will have been used up in approximately 1 minute.

But there are certain hours when there will usually still be plenty left. So in 24 hours it's not always like that. Like I once checked at 01.30 UTC and there were still around 20 left. But in the next hour it turns out that this doesn't happen anymore, aka the transaction will quickly run out again in approximately 1 minute.

[dansus021]

if you want to send a transaction just look at the https://mempool.space/ to figure it out the best fee right now.

But the fee nowadays is crazy 50$ might only can be used as the fee only.

[ZAINmalik75]

Will the transaction fee will high if I send small amount under $50

It does not matter how small and big is your transaction, the power used to validate that transaction will be remain same, and the transaction fee will also, so even if you are doing $50 or $5 transaction the transaction fee will remain the same. I hope you understand now. If still not, then the best way is to go to any explorer for example blockchair, once you will go there you can see the transaction fee for every single transaction on different priority levels.

If you don't know what are priority levels then, your high or lower transaction fee will make your transaction high or lower accordingly. The best way to complete your transaction is keep your transaction fee high by using the RBF.
You can use lighting network if you are facing some problem of high fee which we all are facing actually but keep in mind that you still have to actual fee that you have to pay normally. But it is for only single time, so after that you can make multiple transaction to that channel and if you are going to make a transaction to another channel then you have to shift that channel.

[oktana]

Anyways, I hope that the price for the gas fee can come down as soon as possible so people can transact more. The fee was always a lot more affordable/reasonable than this.

The fee is not called gas fee. This is not Ethereum network or an altcoin network that refers to their network transaction fee as gas fee. Bitcoin transaction fee is called 'transaction fee'. Or just call it fee.

If BRC20 tokens are getting more recognized, more people will be using the tokens and the more bitcoin network would be congested. I hope bitcoin developers will have something to do about this.

Thank you for pointing the correction Charles. I actually do call it “transaction fee” but sometimes when I type I forget and use “gas fee”. I was really used to the Ethereum network so that is why. In as much as I know to use “transaction fees”, I decided to look it up and yeah… You’re correct;

While Ethereum and Polygon use the term “gas fees,” other blockchains such as Solana and Bitcoin use the term “transaction fees.” “Gas” comes from the fee’s similarity to the fuel which keeps a vehicle running.

But then, I’ll still research more Because of Solana being mentioned along with Bitcoin.

[Charmekkd]

Will the transaction fee will high if I send small amount under $50

The fee or transaction sending fee will remain the same, even if you send a small amount of Bitcoin. But even so, if you don't know, the transaction fee can be adjusted to suit your wishes. But if, for example, the bitcoin transaction fee in the mempool is rising, and you set it at a low cost, it is certain that the transaction will take a long time to be confirmed.

[LoyceV]

when I use safepal wallet (not recommended)

Side question: why do you use it if it's not recommended?

or something I have not learned yet?

My advice: get a wallet that supports Coin Control. If possible, select an input that doesn't require any change.

That being said: if you have 0.0016 Bitcoin in your wallet, you should probably not spend it at all if fees take up 20% of that amount. Just wait for better times.

I guess it depends on the time zones, the traffic varies.

You are correct. I noticed ViaBTC's accelerator availability indeed varies during the day.

[benalexis12]

Will the transaction fee will high if I send small amount under $50

Oh, if you do the transaction fee now, it's still a bit expensive and will be deducted from your balance on the $50 you want to withdraw. You might have less than $40 left.

Even if we use viabtc, some say it's hard to keep up because it seems like there are a lot of people waiting every hour that passes for the first 100 to submit a free submission. Just yesterday, the bitcoin fee was so high that it reached 40 dollars. It's shocking.

[0t3p0t]

Will the transaction fee will high if I send small amount under $50

Nah, if you use transaction accelerator you can use the minimum or lower priorities. Recently, I checked the mempool and fee is like $14.49 so it is reasonable to use Viabtc's accelerator on this situation where fees are quiet high. If you are lucky to have successful submission then no need to wait for another hour to avail it's service.

[Jawhead999]

Nah, if you use transaction accelerator you can use the minimum or lower priorities. Recently, I checked the mempool and fee is like $14.49 so it is reasonable to use Viabtc's accelerator on this situation where fees are quiet high. If you are lucky to have successful submission then no need to wait for another hour to avail it's service.

You need to spend more than 0.0001 BTC for the fees, currently it's $4.79, It definitely cheaper than paying $14, but it's still high. The transactions size must be lower than 500 bytes, so if you have many inputs, you can't since the size would be higher than 500 bytes.

Also remember, there's no guarantee your transaction would be speed up.

Paste or enter the TXID you want to accelerate. The volume of a single transaction must be ≤0.5 KB, and the transaction fee rate should be ≥ 0.0001 BTC/KB.

[Z-tight]

It does not matter how small and big is your transaction, the power used to validate that transaction will be remain same, and the transaction fee will also, so even if you are doing $50 or $5 transaction the transaction fee will remain the same.

This is not totally true, even if you select the same fee rate for two different tx's being broadcasted at the same time, the total fee would only be the same if the different tx's are of the same size and if they use the same address type. That is because tx fees are calculated based on the tx size, situation of the network and the address type used, it doesn't just remain the same like you say.

[majeed]

Note that Bitcoin transaction fees are not proportionate to transaction value. Instead, blockchain transaction data size determines them. The charge may be similar whether you transfer $5 or $500. It's important to remember that you can choose the transaction charge.

The network appears to be stagnant. Choosing a lesser cost may reduce transaction performance. This is because miners prioritize high-fee transactions. A low cost may be inexpensive, but patience is needed.

[Yaunfitda]

Will the transaction fee will high if I send small amount under $50

You can but, it's impractical at this point as the fees are very high,



You can used viabtc as someone suggested, but you have,

Paste or enter the TXID you want to accelerate. The volume of a single transaction must be ≤0.5 KB, and the transaction fee rate should be ≥ 0.0001 BTC/KB.

https://www.viabtc.com/tools/txaccelerator

If there is failure error it could be:

Out of quota: 100 FREE transactions are supported per hour. Please resubmit your TXID at next new hour (e.g. 13:00 sharp) or use Paid Service if it surpasses the hourly limit.

[Volimack]

Will the transaction fee will high if I send small amount under $50

Yes, Currently, if you want to do any transaction, you will have to pay high fees and it will take a long time to complete the transaction, which is very frustrating. There are already many transactions pending which are not completed yet, There are many transactions which are still pending for a week or more. Each transaction now incurs higher fees than before.

[cryptoaddictchie]

Yes, Currently, if you want to do any transaction, you will have to pay high fees and it will take a long time to complete the transaction, which is very frustrating. There are already many transactions pending which are not completed yet, There are many transactions which are still pending for a week or more. Each transaction now incurs higher fees than before.

Thats right, I even planning to withdraw but abortef it cause the fees Im gonna spend is way more than enough for a food budget a week. Damn, I dont know why its clogged so much except with the ordinals activity. I guess all we can do is hold our bitcoin for now and wait for these fees to die calm and die down.

[DYING_S0UL]

if you want to send a transaction just look at the https://mempool.space/ to figure it out the best fee right now.

But the fee nowadays is crazy 50$ might only can be used as the fee only.

Had a small question. Suppose today the average transaction fee is $50 and I sent over some BTC to another address. Now imagine the next day, the fee went up twice meaning $100, then what would happen? Will this effect my previous (pending/unconfirmed) transaction that I made? I'm not sure if I used the right words to describe my confusion.

[kentrolla]

That's not how it works as transaction fee depends on network congestion but I will my get into details on the transaction fee dynamics and rather suggest you based on the amount you have mentioned. I would suggest don't do transaction if you want to do it for $50 as fees will be much higher considering current situation.